Double Bottom with Divergence

FX:EURGBP   Euro / British Pound
EURGBP             Setting up a possible Double Bottom

RSI is diverging and hold the trendline

Price is testing a smaller channel and holding. Good RR from the bottom of the channel, otherwise further confirmation with an upside break of channel
Trade closed manually: The spike down today broke the previous low, which makes the trade setup less attractive. My stop was close to being taken out (within 1 pip!) but did not, therefore taking the opportunity to close here for break even
I am also long on this.., :)

+1 Reply
__SpecialFX__ PRO VijaySanghishetty
Good to see we are looking at the same thing. This spike down prior to the London open however invalidates the wave structure for me. I think it's still likely we move higher, but I will sit on the sidelines for this one.
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